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- 1 OXY stock price showed a bullish trend with over 5% price rise in the last 6 months.
- 2 The increased activity of bears was noted in the last month in OXY stock.
OXY stock price showed over 1% price drop in recent weeks whereas it dropped 1.23% in the last month. However, in the pre-market session, the stock price climbed upwards. If this bullish trend stays during the trading session, then OXY’s share price may reach near its 20-day EMA.
In the last 6 months, OXY stock price rose 5.26% but as bears have increased their activity, its price started dropping down.
OXY Stock Price Analysis
At press time, OXY stock price showed an upside ride towards its 20-day EMA. In the recent trading session, the stock was following a bearish trend and the new week seems like changing its old trend. However, according to the pre-market trading session, OXY share price has already shown its upside trading activity.
Notably, due to the bearish trend, the OXY stock price reached near its 50-day EMA. However, as per its pre-market activity, an upside trend is expected during the trading session. Also, the RSI further started its rising journey but that requires continuity in pre-market trends as well.
The price target set by analysts is $68.42, up over 10% from the recent closing price of OXY stock. Whereas, they have a maximum estimate of $80.00 while the minimum estimate is $59.00. In the past 3 months, analysts have given a “buy” rating to Occidental Petroleum Corp.
Q2 2023 Update of Occidental Petroleum Corp.
Occidental Petroleum Corporation (NYSE: OXY), an international energy company, has a market cap of nearly $54.70 Billion. The company released its Q2 2023 report that states its net income is $856.00 Million.
OXY’s price-to-sales ratio is 1.87 and the company has an Enterprise Value to EBITDA ratio of 5.18. OXY dividends are paid quarterly whereas its next dividend per share is expected to be $0.18. As of today, the Dividend Yield (TTM)% is 1.00%.
The earnings per share (EPS) for Q2 2023 is $0.68 whereas the estimate was $0.73 which accounts for a negative 6.35% surprise. The revenue for the similar period amounts to $6.70 Billion despite the estimated figure of $6.92 Billion.
For the upcoming quarter, the estimated EPS is $0.79, and revenue is expected to reach $6.92 Billion. For 2022, the revenue of Occidental Petroleum Corporation amounted to $36.63 Billion. The most of which — $27.16 Billion — came from its highest performing source at the moment, “oil and gas”.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
